Bursa Announcements

On behalf of the Board the Directors of Barakah, Malacca Securities Sdn Bhd (“Malacca Securities”) wishes to make the requisite announcement pursuant to Paragraph 4.2 of Practice Note 17 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, which sets out the Company’s proposed regularisation plan to be undertaken in the following order:-

(i) proposed capital reduction of approximately RM195.0 million to be carried out by the Company, pursuant to Section 116 of the Companies Act, 2016 to reduce the share capital of the Company (“Proposed Capital Reduction”);

(ii) proposed share consolidation of 3 existing ordinary shares in Barakah (“Barakah Shares” or “Shares”) into 1 consolidated Barakah Share (“Proposed Share Consolidation”);

(iii) proposed shares issuance of up to 62,500,000 new Barakah Shares (“Subscription Shares”) to Dato’ Sri Nik Hamdan Bin Daud, the Executive Chairman and major shareholder of Barakah, representing approximately 15.8% of the total number of issued Shares after the Proposed Share Consolidation and shares issuance, to raise total gross proceeds of RM7.5 million (“Proposed Shares Issuance”); and

(iv) proposed establishment of an employees’ shares scheme (“ESS” or “Scheme”) of up to 15% of the issued share capital of Barakah (excluding treasury shares, if any) at any point in time during the duration of the Scheme, for the eligible directors and employees of Barakah Group (excluding dormant subsidiaries) (“Proposed ESS”),

(collectively, referred to as the “Proposed Regularisation Plan”).

Further details of the Proposed Regularisation Plan are set out in the attachment below.

This announcement is dated 29 October 2024.